New to Forums, looking for some seasoned guidance on my journey.About me:Profession: Property Management/Dir. of OpsAnnual Income: $160k/yearCredit Score: 700+Savings earmarked for continued investment: $25kSituation:I found a great opportunity in a highly desirable area in Los Angeles in November/December (5 months ago). 

That's $ each month out of the account that's otherwise earmarked for project purchase and fixup.

I also have $10k sitting aside, earmarked for investing.

The rest of the leads are still valuable (and I spent money to get them) so instead of throwing them away I wholesale them to other investors which creates big chunks of cash I can earmark for other investment strategies. 

I'm lightyears away from being the big names earmarked and referenced throughout BP and the industry but I'm executable and actionably more confident.

If the lender is requiring proof to earmark a certain amount of reserve money you could have your attorney hold it and provide a letter showing the funds are there in a specific account.There are a lot of lenders out there who are fee takers and non-performers or they re-trade the loan and claim they can no longer do the loan.Mortgage brokers earn their fee at get paid at closing and not one second sooner.

It sounds like you're approved for a loan of $875k, but if $200k is earmarked for reno then you're really only offering 675k. 

Richelle, if the flooring is functional but just ugly, I'd consider leaving it and earmarking the funds to upgrade it after a tenant or two, or as a retention bonus for a good tenant.  

This post will definitely be ear marked to look back on!  

Millions of dollars are donated, more in grants are ear marked for this "industry".